Ethos Network Aims to Bring Credibility to the Crypto Industry With On-Chain Reputation

The Philippines has introduced a comprehensive digital asset framework, requiring crypto-asset service providers to register as local corporations with a minimum paid-up capital of ₱100 million. These providers must adhere to strict disclosure requirements, maintain physical offices, and segregate customer assets from corporate holdings.

Senators Warren and Blumenthal expressed concerns about Meta's stablecoin plans, warning of threats to competition and financial privacy. They highlighted the potential for Meta to consolidate economic power and control the U.S. money supply through stablecoins integrated into its platforms.

Glenda Maree Rogan, an Australian financial adviser, has been banned for ten years for allegedly stealing $9.6 million from clients to invest in a crypto scam. The Australian Securities and Investments Commission found that Rogan misled clients about the nature and risks of the investment, transferring funds to a crypto-based scam.

A U.S.-based blockchain startup, DIMO, is expanding into Japan through a joint venture with Hakuhodo KEY3 to address the issue of locked vehicle data in the country's advanced automotive market. The platform aims to help automakers, service partners, and developers innovate by providing a decentralized infrastructure network for sharing vehicle data.

In May, Bitdeer minted 196 BTC, up over 18% from April, with a hashrate increase to 13.6 exahash per second. Top miners like CleanSpark, MARA, Riot Platforms, and HIVE also saw increased BTC production in May.

The two men accused of kidnapping and torturing a man for his Bitcoin pleaded not guilty, claiming the accuser was seen freely moving around New York during the alleged captivity. The defense lawyers presented purported evidence of the accuser laughing, smoking crack cocaine, and engaging in group sex in videos.

Dogecoin surged 6.32% to $0.20, driven by Elon Musk's apology to Donald Trump, easing political tensions. Bloomberg analysts upgraded Dogecoin's ETF approval odds to 80%, indicating institutional interest. Ethereum rose 2.3% to $2,880 on regulatory optimism and $125 million inflow into ETFs.

GameStop plans to offer $1.75 billion in convertible senior notes to investors, with no interest, maturing in 2032. The company's recent purchase of 4,710 Bitcoin raised questions about its allocation of funds, although it stated the money would be used for general corporate purposes along with potential investments and acquisitions.

Interactive Strength is deviating from the trend of holding Bitcoin by committing up to $500 million to buy Fetch.ai (FET) tokens for its AI integration roadmap. The company's strategy involves acquiring FET tokens for their utility in developing products using Fetch.ai's technology.

Circle's stock, CRCL, has surged over 10% as its USDC stablecoin and cross-chain transfer protocol expand to World Chain, co-founded by OpenAI CEO Sam Altman. The integration automatically upgraded bridged USDC tokens to the new native USDC, enhancing liquidity and security for developers and users.